As of the awarding of the 2014 prize, 46 Nobel Memorial Prizes in Economic Sciences have been given to 75 individuals.[5] Up to 2007, nine awards had been given for contributions to the field of macroeconomics, more than any other category.[6] The institution with the most affiliated Nobel laureates in Economics is the University of Chicago, which has 28 affiliated laureates.[7]
| Year |
Laureate |
Country |
Rationale |
| 1969 |
 |
Ragnar Frisch |
Norway |
"for having developed and applied dynamic models for the analysis of economic processes"[2] |
 |
Jan Tinbergen |
Netherlands |
| 1970 |
 |
Paul Samuelson |
United States |
"for the scientific work through which he has developed static and dynamic economic theory and actively contributed to raising the level of analysis in economic science"[8] |
| 1971 |
|
Simon Kuznets |
United States |
"for his empirically founded interpretation of economic growth which has led to new and deepened insight into the economic and social structure and process of development"[9] |
| 1972 |
 |
John Hicks |
United Kingdom |
"for their pioneering contributions to general economic equilibrium theory and welfare theory."[10] |
 |
Kenneth Arrow |
United States |
| 1973 |
|
Wassily Leontief |
Soviet Union
United States |
"for the development of the input-output method and for its application to important economic problems"[11] |
| 1974 |
 |
Gunnar Myrdal |
Sweden |
"for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena."[12] |
 |
Friedrich Hayek |
Austria
United Kingdom |
| 1975 |
 |
Leonid Kantorovich |
Soviet Union |
"for their contributions to the theory of optimum allocation of resources"[13] |
 |
Tjalling Koopmans |
Netherlands
United States |
| 1976 |
 |
Milton Friedman |
United States |
"for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilisation policy"[14] |
| 1977 |
 |
Bertil Ohlin |
Sweden |
"for their pathbreaking contribution to the theory of international trade and international capital movements"[15] |
 |
James Meade |
United Kingdom |
| 1978 |
 |
Herbert A. Simon |
United States |
"for his pioneering research into the decision-making process within economic organizations"[16] |
| 1979 |
|
Theodore Schultz |
United States |
"for their pioneering research into economic development research with particular consideration of the problems of developing countries."[17] |
|
Arthur Lewis |
Saint Lucia
United Kingdom |
| 1980 |
|
Lawrence Klein |
United States |
"for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies"[18] |
| 1981 |
 |
James Tobin |
United States |
"for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices"[19] |
| 1982 |
|
George Stigler |
United States |
"for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation"[20] |
| 1983 |
 |
Gérard Debreu |
France |
"for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium"[21] |
| 1984 |
|
Richard Stone |
United Kingdom |
"for having made fundamental contributions to the development of systems of national accounts and hence greatly improved the basis for empirical economic analysis"[22] |
| 1985 |
 |
Franco Modigliani |
Italy |
"for his pioneering analyses of saving and of financial markets"[23] |
| 1986 |
 |
James M. Buchanan |
United States |
"for his development of the contractual and constitutional bases for the theory of economic and political decision-making"[24] |
| 1987 |
 |
Robert Solow |
United States |
"for his contributions to the theory of economic growth"[25] |
| 1988 |
 |
Maurice Allais |
France |
"for his pioneering contributions to the theory of markets and efficient utilization of resources"[26] |
| 1989 |
 |
Trygve Haavelmo |
Norway |
"for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures"[27] |
| 1990 |
|
Harry Markowitz |
United States |
"for their pioneering work in the theory of financial economics"[28] |
|
Merton Miller |
 |
William F. Sharpe |
| 1991 |
 |
Ronald Coase |
United Kingdom |
"for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy"[29] |
| 1992 |
 |
Gary Becker |
United States |
"for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including non-market behaviour"[30] |
| 1993 |
 |
Robert Fogel |
United States |
"for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change"[31] |
|
Douglass North |
| 1994 |
|
John Harsanyi |
United States |
"for their pioneering analysis of equilibria in the theory of non-cooperative games."[32] |
 |
John Forbes Nash |
 |
Reinhard Selten |
Germany |
| 1995 |
|
Robert Lucas, Jr. |
United States |
"for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy"[33] |
| 1996 |
|
James Mirrlees |
United Kingdom |
"for their fundamental contributions to the economic theory of incentives under asymmetric information"[34] |
|
William Vickrey |
Canada
United States |
| 1997 |
 |
Robert C. Merton |
United States |
"for a new method to determine the value of derivatives."[35] |
 |
Myron Scholes |
Canada
United States |
| 1998 |
 |
Amartya Sen |
India |
"for his contributions to welfare economics"[36] |
| 1999 |
 |
Robert Mundell |
Canada |
"for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas"[37] |
| 2000 |
 |
James Heckman |
United States |
"for his development of theory and methods for analyzing selective samples"[38] |
 |
Daniel McFadden |
United States |
"for his development of theory and methods for analyzing discrete choice"[38] |
| 2001 |
 |
George Akerlof |
United States |
"for their analyses of markets with asymmetric information"[39] |
 |
Michael Spence |
 |
Joseph E. Stiglitz |
| 2002 |
 |
Daniel Kahneman |
Israel
United States |
"for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty"[40] |
 |
Vernon L. Smith |
United States |
"for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms"[40] |
| 2003 |
 |
Robert F. Engle |
United States |
"for methods of analyzing economic time series with time-varying volatility (ARCH)"[41] |
 |
Clive Granger |
United Kingdom |
"for methods of analyzing economic time series with common trends (cointegration)"[41] |
| 2004 |
 |
Finn E. Kydland |
Norway |
"for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles."[42] |
 |
Edward C. Prescott |
United States |
| 2005 |
 |
Robert J. Aumann |
United States
Israel |
"for having enhanced our understanding of conflict and cooperation through game-theory analysis."[43] |
 |
Thomas C. Schelling |
United States |
| 2006 |
 |
Edmund S. Phelps |
United States |
"for his analysis of intertemporal tradeoffs in macroeconomic policy"[44] |
| 2007 |
 |
Leonid Hurwicz |
Poland
United States |
"for having laid the foundations of mechanism design theory"[45] |
 |
Eric S. Maskin |
United States |
 |
Roger B. Myerson |
| 2008 |
 |
Paul Krugman |
United States |
"for his analysis of trade patterns and location of economic activity"[46] |
| 2009 |
 |
Elinor Ostrom |
United States |
"for her analysis of economic governance, especially the commons"[47] |
 |
Oliver E. Williamson |
"for his analysis of economic governance, especially the boundaries of the firm"[47] |
| 2010 |
 |
Peter A. Diamond |
United States |
"for their analysis of markets with search frictions"[48] |
 |
Dale T. Mortensen |
 |
Christopher A. Pissarides |
Cyprus |
| 2011 |
 |
Thomas J. Sargent |
United States |
"for their empirical research on cause and effect in the macroeconomy"[49] |
 |
Christopher A. Sims |
| 2012 |
 |
Alvin E. Roth |
United States |
"for the theory of stable allocations and the practice of market design."[50] |
 |
Lloyd S. Shapley |
| 2013 |
 |
Eugene F. Fama |
United States |
"for their empirical analysis of asset prices."[51] |
 |
Lars Peter Hansen |
 |
Robert J. Shiller |
| 2014 |
 |
Jean Tirole |
France |
"for his analysis of market power and regulation".[52] |
| 2015 |
|
Angus Deaton |
United Kingdom
United States |
"for his analysis of consumption, poverty, and welfare".[53] |